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Extra info for Globalization of Capital and the Nation-State: Imperialism, Class Struggle, and the State in the Age of Global Capitalism
S . workers, leading to increased class polarization 5 . S. experience, it is clear that in the post-World War I1 period the United States emerged as the dominant power in the capitalist world. -controlled transnational production 24 Chapter One reached a decisive stage, necessitating the restructuring of the international division of labor, as the export of productive capital effected a shift in the nature and location of production: the expansion of manufacturing industry on an unprecedented scale into previously precapitalist, peripheral areas of the global capitalist economy.
Through these main channels the millions flow to feed many subsidiary trades, most of which are quite aware that they are engaged in executing contracts for the services. Here we have an important nucleus of commercial Imperialism. Some of these trades, especially the shipbuilding, boilermaking and gun and ammunition making trades, are conducted by large firms with immense capital whose heads are well aware of the uses of political influence for trade purposes. These men are Imperialists by conviction; a pushful policy is good for them.
Forms an utterly insignificant part of our national income, while the expenses connected directly and indirectly with the acquisition, administration and defense of these possessions must swallow an immeasurably larger sum. ( 1972,28,38-39) The new imperialism, according to Hobson, was an unwise policy not only from the standpoint of the British economy and society, but also in terms of its exploitive consequences in the colonies, which aroused the resentment of oppressed people. ” He had no hesitation in his mind to reply that “the only possible answer is that the business interests of the nation as a whole are subordinated to those of certain sectional interests that usurp control of the national resources and use them for their private gain” ([ 19051 1972,46).